CPP Investments backs Varde’s subline strategy launch
The Canadian pension giant provided USD 300m of strategic equity toward the new fund finance platform

US pensions' push into European private credit involves local expertise pursuit, mid-market strategy differentiation
The European credit market is expected to benefit from recent fiscal stimulus announcements and lower primary tariff impact, while mid-sized managers are likely to see growing demand for differentiated strategies

BlackRock pushes private markets for revenue diversification
The world’s largest asset manager is planning to launch three new private credit products for the wealth channel, in addition to its purchase of private credit shop HPS

US pensions increasingly eye European private credit amid expanding allocations, diversification pressures
US public pensions have committed at least USD 4.4bn to European private credit strategies since July 2024  

CalPERS invests USD 16.2bn in private debt, mostly through custom accounts
The institutional investor committed USD 12.2bn to the asset class across 17 customized investment accounts in the past 12 months  

LP secondaries sales can create risk to subscription lines – Fitch
However, a diversified limited partner base and lower advance rates for more concentrated funds can help mitigate losses, a report says

US middle market could offer good, unlevered returns in downturn—Kayne Anderson
The growth of BDCs and third-party valuation firms have also led to better practices in the industry, co-head of private credit strategies Douglas Goodwillie said

New York, Texas among pension systems taking new private credit actions
New York State Common Retirement Fund commits over USD 700m to ICG strategies, while Texas, DC, Los Angeles pension funds also disclose recent private credit investments

Connecticut, San Francisco among funds making new private credit moves – Public Pensions, Private Pursuits
EXCLUSIVE: Connecticut plans commitment to Anchorage Capital distressed credit funds; San Francisco, North Dakota, and Dallas funds disclose recent commitments

Crestline raises USD 1.7bn to lend to private asset funds
The firm held a final close on its third net-asset-value fund called Portfolio Finance Sentry Fund

Former Platinum Credit MD joins multi-manager platform Schonfeld
Jordan Stevens previously served as a senior credit deal lead for Platinum Equity’s private credit platform

Kayne Anderson to debut private BDC to tap affluent investors
EXCLUSIVE: Private BDCs, pioneered by some of the largest direct lenders in the market, are becoming a common vehicle across the private credit manager industry

Kayne Anderson raises more than USD 2bn for middle market direct lending
EXCLUSIVE: The firm plans to hold a final close for Kayne Anderson Senior Credit Fund V at the end of the year

Remora Capital Partners to launch inaugural private BDC
The firm expects the private BDC to reach a size of around USD 500m in around a year’s time

JPMorgan’s asset management arm seeks to raise direct lending fund
EXCLUSIVE: The asset management unit is raising capital from institutional investors for direct lending as the bank steps up lending from its balance sheet.

New York, New Mexico pensions lead recent private credit investment
New York State, New Mexico pension systems disclose recent private credit investment worth USD 800m

KKR, Capital Group expand partnership with plans for public-private market product
The private market specialist is joining forces with a traditional asset manager to better reach individual investors

Audax launches private BDC with USD 1.1bn
The new product is aimed at wealthy individual investors in the US

Cliffwater aims for more than USD 10bn in private credit co-investments
EXCLUSIVE: The firm, which now oversees nearly USD 28bn in its private credit interval fund, says it's found "an abundance" of co-investment opportunities

Maryland pension PM joins Nomura’s public-private credit manager
The company is also looking to hire two more investment professionals

Golub launches direct lending continuation vehicle
GP-led secondaries deals involve a manager rolling existing investments into a new vehicle rather than returning capital to investors as originally planned

Wyoming, Texas among state systems making new private credit commitments – Public Pensions, Private Pursuits
Wyoming invests USD 300m in TPG AG and Kennedy Lewis private credit funds, and Texas pension system invests USD 250m in Penfund, SKY Leasing direct lending funds

400 Capital names leaders for ABS, corporate and distressed strategies
The alternative credit manager also announced two new partners

Pantheon raises USD 5.2bn for senior debt secondaries
The latest fund, Pantheon Senior Debt III, was oversubscribed as interest from the insurance channel grows

US corporate private credit assets surpasses BSL, HY markets—LSTA
Despite the growth, leverage across various private credit vehicles remain modest, according to the industry group’s latest study